Molo Finance has announced reductions to its buy to let mortgage rates for UK residents, expats and non-UK residents, with cuts of up to 25 basis points.
For UK residents the two-year fixed buy to let rates start from 4.35% for individual and limited company borrowers at a 75% loan-to-value; five-year fixed rates start at 4.96%. Specialist products – including multi-unit freehold blocks, HMOs, holiday lets and investor-led properties – also have reductions from 4.45% for a two-year fixed and 5.06% for a five-year fixed rate.
Expats are also offered reduced rates, with two and five-year fixed BTL products now available from 4.99% for capital and interest mortgages and 5.74% for interest-only mortgages, both at a 70% LTV.However, for non-UK residents, fixed rates remain unchanged. A £150 application fee applies to all new UK resident applications submitted.
Paragon Bank, too, has lowered rates on its range of two-year buy to let fixed-rate mortgages, starting at 3.89% for single self-contained properties with A to C EPC ratings. For homes with EPC D or E, rates will start from 3.94%. These are available at 70% loan-to-value and come with a 5.00% fee.
For landlords seeking 75% LTV there are two-year fixed-rate products starting at 4.80% with a 3.00% product fee. A 1.50% fee product is also available, with rates set at 5.55% for the EPC A to C mortgage and 5.60% for EPC D and E.
Landlords financing the purchase or remortgage of HMOs or multi-unit blocks are offered the same products but with rates starting at 4.14% at 70% LTV and 5.05% at 75% LTV. The products are available for individual and limited company applications in England, Scotland and Wales, include a free mortgage valuation and an application fee of £299.
Meanwhile Santander has made reductions up to 0.20% on selected fixed-rate mortgages across its purchase, remortgage, buy-to-let, and new-build ranges.
In terms of buy to let mortgage rates, the 60% LTV two-year fixed rate buy to let purchase mortgage with a £1,749 purchase fee is now 4.62%, down from 4.72%.
The 60% LTV five-year fixed rate buy-to-let remortgage with a £1,749 fee is cut to 4.37%, previously 4.50%.
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